3.Heat a large pan on medium high heat and add olive oil. Add steak to the pan, and flipping only once if possible, cook until desired temperature (about 3-5 minutes per side for medium rare.) Remove steak and set aside white sauce is formed.

4.Pour off fat from skillet, then add shallots and half of butter to skillet and cook over medium heat, stirring and scraping up brown bits, until shallots are caramelized, about 4-5 minutes.